St. Jude Medical Announces CRM Succession Plan
May 07 2007 - 8:00AM
Business Wire
St. Jude Medical, Inc. (NYSE:STJ) today announced that Eric S. Fain
will become President of its Cardiac Rhythm Management Division
(CRMD) effective July 1, 2007, succeeding Michael J. Coyle, who
will transition out of this role after 13 highly successful years
with the company. Eric Fain has been with St. Jude Medical
companies for 20 years, most recently as Executive Vice President
for Development and Clinical/Regulatory Affairs for CRMD, the
company�s largest division. �Eric Fain is a 20-year veteran of the
ICD business, who has played an integral role in the success of our
Cardiac Rhythm Management Division,� said Daniel J. Starks,
Chairman, President and Chief Executive Officer of St. Jude
Medical, Inc. �His clinical, regulatory, and product development
experience and knowledge make him ideally suited to lead this
group. �Mike Coyle has been an important part of St. Jude Medical�s
success for more than a decade, leading both our Cardiac Rhythm
Management group and the former Daig Division,� continued Starks.
�He has provided strong leadership during a time of tremendous
growth. Mike�s commitment and contributions to St. Jude Medical
have given him significant career, financial and personal
independence and flexibility and Mike has informed me that he would
like to transition out of the role over the course of 2007. We
thank Mike for his contributions, his commitment and his
enthusiasm. Eric and Mike will work closely over the next few
months to ensure a seamless transition.� Eric has been responsible
for managing all implantable cardioverter defibrillator (ICD),
pacemaker, and related product and technology development; U.S. and
international regulatory submissions; U.S. and international
clinical studies; and the U.S. field clinical engineering and
technical support organizations for CRMD. He joined Ventritex (now
part of St. Jude Medical) in 1987 and was named CRMD�s Senior Vice
President, Clinical Engineering and Regulatory Affairs in 1998. In
2002, his role broadened to include Product Development
responsibilities, and in 2005 he was promoted to his current
position. Eric received his M.D. from the Stanford University
School of Medicine. He also holds a Bachelor of Science degree in
Applied Math/Biology from Brown University, where he graduated
magna cum laude. He holds approximately 36 U.S. patents and has
been widely published in clinical journals, having served as an
author on more than 25 manuscripts. Mike Coyle joined St. Jude
Medical in 1994 as Director of Business Development. In 1997, he
was named President of St. Jude Medical�s Daig Division. He has
been President of the Cardiac Rhythm Management Division since
2001. About St. Jude Medical St. Jude Medical is dedicated to
making life better for cardiac, neurological and chronic pain
patients worldwide through excellence in medical device technology
and services. The Company has five major focus areas that include:
cardiac rhythm management, atrial fibrillation, cardiac surgery,
cardiology and neuromodulation.�Headquartered in St. Paul, Minn.,
St. Jude Medical employs more than 11,000 people worldwide. For
more information, please visit www.sjm.com. Forward-Looking
Statements This news release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995 that involve risks and uncertainties. Such forward-looking
statements include the expectations, plans and prospects for the
Company, including potential clinical successes, anticipated
regulatory approvals and future product launches, and projected
revenues, margins, earnings, and market shares. The statements made
by the Company are based upon management�s current expectations and
are subject to certain risks and uncertainties that could cause
actual results to differ materially from those described in the
forward-looking statements. These risks and uncertainties include
market conditions and other factors beyond the Company�s control
and the risk factors and other cautionary statements described in
the Company�s filings with the SEC, including those described in
the Company�s Annual Report on Form 10-K filed on February 28, 2007
(see Item 1A on pages 13-20, and page 20 of Exhibit 13 to the
Company�s Form 10-K). The Company does not intend to update these
statements and undertakes no duty to any person to provide any such
update under any circumstance.
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